Welcome

....to JusticeGhana Group

 Welcome to JusticeGhana

JusticeGhana is a Non-Governmental [and-not-for- profit] Organization (NGO) with a strong belief in Justice, Security and Progress....” More Details

Think tanks back prediction of unprecedented cedi depreciation this year

news

Think tanks back prediction of unprecedented cedi depreciation this year

Latest Articles
opinion How I Wish Krobo Edusei Was Alive! When Mr Krobo Edusei became Minister of the Interior in...
human rights South African court grants man 'right to die' A South African court has granted a ter...
News Better Cough GH¢51.2m – CJ Warns Woyome The Chief Justice, Georgina Theodora Wood, has war...
justice Hundreds of thousands rally in Buenos Aires to remember dead prosecutor More than 250,000 ...
public lecture Human Rights, Individual Freedoms and Democracy in Ghana- The Preventive Detention A...
The Centre for Policy Analysis and financial services provider, Gold Coast securities are warning that an imminent unprecedented fall of the cedi this year that will trigger astronomical increases in prices of goods.

The two institutions confirmed a report by international business news outlet, Bloomberg, which predicted the cedi will this year fall to its lowest level yet against the US dollar since its redenomination in 2007.

The report noted that the cedi will depreciate to as low as 2 cedis to a dollar by the end of 2013.

Currency Analyst with Gold Coast Securities, Kofi Ampaw said “we were expecting that at least the cedi will hold on to its value loss against the dollar this year but unfortunately the trend has continued”.

“And it is very worrying…the country as at the moment is importing a lot more and exporting less so it is going to happen.”

Dr. Joe Abbey, the Executive Director of the Centre for Policy Analysis, also stated that the predicted fall in the cedi will have a devastating effect on the economy.

“…We are not growing this economy and we are spending too much time doing politics…”

He warned that “if we go on like this, it could be worse than your two cedis to the dollar.”

From: Joy Business





Smileys

:confused::cool::cry::laugh::lol::normal::blush::rolleyes::sad::shocked::sick::sleeping::smile::surprised::tongue::unsure::whistle::wink:

 1000 Characters left

Antispam Refresh image Case sensitive

JusticeGhana Group *All Rights Reserved © 2007-2013*Privacy Policy